Rhumbline Advisers Acquires 9,817 Shares of Vir Biotechnology, Inc. (NASDAQ:VIR)

Rhumbline Advisers grew its stake in shares of Vir Biotechnology, Inc. (NASDAQ:VIR) by 4.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 238,504 shares of the company’s stock after buying an additional 9,817 shares during the period. Rhumbline Advisers owned 0.18% of Vir Biotechnology worth $2,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of Vir Biotechnology by 249.9% in the first quarter. GAMMA Investing LLC now owns 2,708 shares of the company’s stock worth $27,000 after buying an additional 1,934 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Vir Biotechnology by 274.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,970 shares of the company’s stock worth $30,000 after acquiring an additional 2,177 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Vir Biotechnology during the 2nd quarter worth approximately $32,000. PNC Financial Services Group Inc. boosted its position in shares of Vir Biotechnology by 20.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,186 shares of the company’s stock valued at $113,000 after acquiring an additional 1,869 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Vir Biotechnology in the first quarter valued at $119,000. Institutional investors own 65.32% of the company’s stock.

Vir Biotechnology Price Performance

Shares of Vir Biotechnology stock opened at $7.94 on Friday. Vir Biotechnology, Inc. has a 1 year low of $7.41 and a 1 year high of $13.09. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -1.98 and a beta of 0.46. The firm’s 50-day moving average is $8.87 and its two-hundred day moving average is $9.42.

Vir Biotechnology (NASDAQ:VIR) last announced its earnings results on Thursday, August 1st. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.13). The company had revenue of $3.08 million for the quarter, compared to the consensus estimate of $7.53 million. Vir Biotechnology had a negative net margin of 612.40% and a negative return on equity of 30.93%. The firm’s revenue was down 19.0% compared to the same quarter last year. During the same period last year, the business posted ($1.45) EPS. On average, equities analysts expect that Vir Biotechnology, Inc. will post -3.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

VIR has been the subject of several recent research reports. Barclays lifted their price target on Vir Biotechnology from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. HC Wainwright reissued a “buy” rating and set a $110.00 target price on shares of Vir Biotechnology in a research report on Tuesday, August 20th. Needham & Company LLC increased their price target on Vir Biotechnology from $15.00 to $19.00 and gave the company a “buy” rating in a report on Wednesday, June 5th. Finally, Morgan Stanley lifted their price objective on shares of Vir Biotechnology from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 6th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Vir Biotechnology presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.80.

Insider Activity at Vir Biotechnology

In other news, Director Janet Napolitano sold 12,190 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $7.80, for a total value of $95,082.00. Following the completion of the sale, the director now owns 11,616 shares of the company’s stock, valued at approximately $90,604.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.60% of the stock is currently owned by corporate insiders.

Vir Biotechnology Profile

Vir Biotechnology, Inc, a commercial-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It offers tobevibart + elebsiran for the treatment of chronic hepatitis delta; elebsiran + PEG-IFN-a, tobevibart ± elebsiran ± PEG-IFN-a, and elebsiran+ TLR8+PD-1 for the treatment of chronic hepatitis B; VIR-1388 and Cure mAb combination for the treatment of human immunodeficiency virus; VIR-8190 for the treatment of respiratory syncytial virus / human metapneumovirus; VIR-2981 for the treatment of influenza; VIR-1949 for the treatment of pre-cancerous HPV lesions; and VIR07229 and Sotrovimab for the treatment of COVID-19 infection under the Xevudy brand.